Perpetua Resources (NASDAQ:PPTA) Sees Large Volume Increase

Perpetua Resources Corp. (NASDAQ:PPTA) shares saw unusually-strong trading volume on Friday . Approximately 350,806 shares were traded during mid-day trading, an increase of 59% from the previous session’s volume of 220,168 shares.The stock last traded at $8.98 and had previously closed at $8.71.

Analyst Ratings Changes

A number of research analysts recently issued reports on PPTA shares. HC Wainwright restated a “buy” rating and set a $13.25 price target on shares of Perpetua Resources in a research note on Thursday, August 22nd. National Bank Financial began coverage on shares of Perpetua Resources in a report on Friday, September 6th. They issued an “outperform” rating on the stock.

Perpetua Resources Stock Up 3.3 %

The stock has a market cap of $581.40 million, a PE ratio of -33.33 and a beta of 0.29. The stock has a fifty day moving average of $7.27 and a 200-day moving average of $6.05.

Perpetua Resources (NASDAQ:PPTA) last announced its earnings results on Friday, August 9th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. Equities research analysts forecast that Perpetua Resources Corp. will post -0.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Perpetua Resources

Several institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD purchased a new stake in shares of Perpetua Resources in the first quarter valued at about $51,000. Flaharty Asset Management LLC acquired a new stake in Perpetua Resources in the second quarter valued at about $70,000. American Century Companies Inc. acquired a new stake in Perpetua Resources in the second quarter valued at about $124,000. National Bank of Canada FI purchased a new stake in Perpetua Resources in the 4th quarter valued at approximately $148,000. Finally, Marshall Wace LLP acquired a new position in Perpetua Resources during the 2nd quarter worth approximately $197,000. 70.07% of the stock is owned by institutional investors and hedge funds.

About Perpetua Resources

Perpetua Resources Corp. engages in the exploration and development of mineral properties in the United States. The company primarily explores for gold, silver, and antimony deposits. Its principal asset is the 100% owned Stibnite Gold project, which includes 1,672 unpatented lode claims, mill sites, and patented land holdings covering an area of approximately 11,548 hectares located in Valley County, Idaho.